Comprehensive Income and Accumulated Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Changes in Accumulated Other Comprehensive Income (AOCI)

The following table illustrates the changes in the balance of each component of accumulated other comprehensive income for each period presented in the interim financial statements.

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
	(in thousands)
Balance, beginning of period	$	13,695		$	4,962		$	12,211		$	(832	)
Other comprehensive income before reclassification		5,588			5,001			7,373			10,889
Amounts reclassified from accumulated other comprehensive income		(105	)		(21	)		(406	)		83
Change in deferred tax valuation allowance		—			198			—			—
Net current period other comprehensive income		5,483			5,178			6,967			10,972
Balance, end of period	$	19,178		$	10,140		$	19,178		$	10,140

Reclassification Out of Accumulated Other Comprehensive Income

The effects of reclassifications out of accumulated other comprehensive income by the respective line items of net income are presented in the following table.

Component of Accumulated Other	Three Months Ended						Six Months Ended						Affected line item in the
Comprehensive Income	June 30,						June 30,						statement of income
	2020			2019			2020			2019
	(in thousands)
Unrealized gains (losses) on available-for-sale securities	$	133		$	26		$	514		$	(105	)	Net realized gains (losses) on investments
		133			26			514			(105	)	Income before income taxes
		(28	)		(5	)		(108	)		22		Income tax expense
	$	105		$	21		$	406		$	(83	)	Net income